Jul 22
MAGELLAN ENERGY LTD is moving up on very unusual volume. It surged 60% at $0.0006 and traded over 979 million shares. Magellan Energy is a publicly traded independent oil and gas company. The company is actively acquiring oil and gas leases, producing properties, mineral rights, and surface interests in Tennessee and Oklahoma. Once acquired, the company intends to develop each property to maximize the income from each property by re-establishing production, refurbishing and improving the existing production and operations.